01 — Thesis
The bull case. Stress-tested.
This site is openly bullish. A thesis is only worth holding if it survives the best arguments against it, so here's the case in five pillars, then every major bear argument answered, with sources.
Bull vs. bear
Every bear argument, answered.
The left column is the strongest version of each bear argument. The right column is the bull response. Some answers are strong and some are "watch this". You can judge.
What would prove the thesis
A Stage 4 design win, a signed supply/license agreement with a Stage 3 customer, and first production orders on the 2H 2027 timeline.
What would break it
Stage 3 programs stalling or dropping out, the 2027 volume target slipping without explanation, or a competing material winning the same sockets on cost.
Watch next
Q3 2026 results on Nov 10, 2026. Catalyst calendar →